Why stablecoins > banks in West Africa Last week, the Bank of Ghana announced a 5% fee on dollar cash withdrawals from dollar bank accounts. Some banks have even stopped allowing dollar cash withdrawals altogether. This is a massive blow for both businesses and regular people. Let me break down why in a few simple points. And then show you how I use stablecoins to protect myself from problems like this. Why do Ghanaians need dollars? The Ghana Cedi trades like a shitcoin. Over the past two years it's swung from 11 to the dollar, up to 16, back to 10 and now it's sitting around 12. Because of that volatility, many businesses and people prefer to hold dollars and transact in dollar terms. If there’s a fee on dollar cash withdrawals, why not just use a card, or take out cedis and swap them for dollars on the street? The Bank of Ghana set an official dollar-cedi exchange rate that's much worse than the street rate. So if you withdraw cedis from your dollar account, you get far less...